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Genesis Worldwide Announces Cancellation of AIM Listing
MISSISSAUGA, ONTARIO--(MARKET WIRE)--Feb 10, 2009 -- Genesis Worldwide Inc. ("Genesis" or the "Company"), (Toronto:GWI.TO - News)(AIM: GWI), a leading provider of 'green' building technologies, announces the cancellation of the trading of its common shares on the Alternative Investment Market ("AIM") of the London Stock Exchange, to take effect from 7 a.m. (GMT) on Wednesday, March 11, 2009 (the "Cancellation Date").
The Board of Genesis concluded that the additional costs associated with maintaining a listing on AIM were not justifiable given the Company's North American focused shareholder base. This decision was based on several factors, including low trading volumes in the UK, and the cost and management resources involved in maintaining the AIM listing. The Company will maintain its listing on the Toronto Stock Exchange ("TSX"), and UK shareholders wishing to trade Genesis' common shares after the Cancellation Date will be able to do so through the TSX. Genesis does not expect the liquidity or marketability of the Company's common shares to be materially affected by the AIM delisting.
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